True Strength Index with Crossovers Alerts

🚀 True Strength Index (TSI) with Visual Crossover Alerts


Hey everyone! I’m sharing my customized True Strength Index (TSI) indicator, which I've boosted with clear visual signals and alert conditions based on my personal, high-probability trading strategy.

The True Strength Index is a powerful, oscillation-based momentum indicator that smooths price movements twice using Exponential Moving Averages (EMAs). This double-smoothing process helps to filter out market noise, giving you a much clearer view of momentum changes than basic indicators.

🛠️ How This Script Works

This script focuses on the crucial interaction between the TSI line and its Signal Line:

TSI Line (Blue): Tracks momentum direction and strength.

Signal Line (Red): A simple EMA of the TSI line, used to determine short-term trend shifts.

Visual Buy/Sell Signals:

To make signals impossible to miss, I've added distinct visual markers:

🟢 Green Dot: A "Buy Signal" is plotted at the bottom of the indicator pane when the TSI crosses above the Signal Line (bullish crossover).

🔴 Red Dot: A "Sell Signal" is plotted at the bottom when the TSI crosses below the Signal Line (bearish crossover).

Additionally, I've included named alertconditions so you can set up real-time notifications for these exact crossovers in the TradingView Alert system.

🧠 My Trading Logic: Combining TSI with RSI

I don't use the TSI in isolation. My favorite approach is to use this TSI indicator as a timing tool, but only when it aligns with the overall momentum context defined by the Relative Strength Index (RSI).

This is the key to my strategy:

Bullish Trade Filter: I only take a BUY signal (Green Dot) when my RSI indicator is already in a bullish territory (above 50).

Bearish Trade Filter: I only take a SELL signal (Red Dot) when my RSI indicator is already in a bearish territory (below 50).

This combination ensures you are trading with the underlying momentum trend, improving the probability of success.

⚙️ My Recommended Custom Settings

For the best results with this strategy, I recommend using the following custom settings. You can enter these values in the "Inputs" tab when adding the indicator to your chart.

1. TSI (Alerts) Settings


Long Length - 60

Higher value for smoother price change data.

Short Length -30

Medium-term smoothing for clearer momentum shifts.

Signal Length - 9

Short length for a responsive signal line.


2. Companion RSI Settings (RSI+)

RSI Length - 150

A long look-back period for highly accurate trend filtering.

MA1 Length - 60

Used for additional smoothing.

MA2 Length - 150

Used for powerful trend confluence.